Exam (elaborations)
NJ HEALTH AND ACCIDENT (ACTUAL) 2024 QUESTIONS AND ANSWERS
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NJ HEALTH AND ACCIDENT (ACTUAL) 2024 QUESTIONS AND ANSWERS
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NJ HEALTH AND ACCIDENT (ACTUAL)An insured MUST submit proof of loss on a health insurance claim within how
many days after the date of loss? - ANSWERS-90 days
In contrast to a guaranteed renewable policy, a noncancellable policy - ANSWERS-
may never raise premiums
A medical provider that accepts Medicare Assignment must - ANSWERS-accept
payment based upon a defined Medicare schedule as payment in full
Fraternal Benefit Society has each of the following characteristics EXCEPT -
ANSWERS-Exist For Profit
The New Jersey Life and Health Guaranty Association is - ANSWERS-funded by
assessments on member companies
Who would make the final determination on whether or not an insurance
advertisement is misleading? - ANSWERS-Banking and Insurance Commissioner
Which of these may NOT be used in a health insurance advertisements -
ANSWERS-An insurance company's trademark instead of the company's actual
name
,Which of the following is NOT a common exclusion for a medical expense policy? -
ANSWERS-Physical Therapy
Which of the following is NOT a duty of the Commissioner? - ANSWERS-Establish
insurer rates
NJ insurance law requires eligible individuals to make an election to continue
health insurance benefits within a MAXIMUM of _____ days after coverage
termination - ANSWERS-60 days
The Commissioner issues a subpoena to a producer. The producer decides not to
respond. Which course of action must be taken by the Commissioner? -
ANSWERS-Commissioner may impose an administrative penalty
In what form do disability income policies typically pay benefits - ANSWERS-
Periodic income
The Mandatory health policy provision states that the policy, including
endorsements and attached papers, constitutes - ANSWERS-The entire insurance
contract between the parties
The entire contract includes the actual policy and the - ANSWERS-application
employer sponsored group health insurance provides coverage for which of the
following - ANSWERS-Alcoholism
, The term which describes the fact that both parties of a contract may not receive
the same value is referred to as - ANSWERS-Aleatory
Tom has a home health care benefit and is confined to his home. Which of these
is NOT typically covered - ANSWERS-Full-time nursing care
A Medicare Supplement policy can be cancelled by the insurer for - ANSWERS-
Nonpayment
Credit Accident and Health plans are designed to - ANSWERS-help pay off existing
loans during periods of disability
A payment system for health care in which the provider is paid for each service
given is called - ANSWERS-fee-for-service
An insurance company ONLY pay a sales commission to - ANSWERS-individuals
licensed by the state
Ken is a producer who has obtained Consumer Information Reports under false
pretenses. Under the Fair Credit Reporting Act, what is the maximum penalty that
may be imposed on Ken? - ANSWERS-$5000 and 1 year imprisonment
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